Louisiana-Pacific Corporation (LP Building Solutions) reports developments tied to engineered wood building products for new construction, repair, remodeling, and related markets. The company’s recurring news centers on its Siding portfolio, including LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions, as well as OSB and LP® Structural Solutions products such as LP® FlameBlock® Fire-Rated Sheathing, LP BurnGuard™ FRT OSB, LP WeatherLogic® Air & Water Barrier, LP® TechShield® Radiant Barrier Sheathing, LP Legacy® Premium Sub-Flooring, and LP® TopNotch® 350 Durable Sub-Flooring.
Company updates also cover quarterly results and guidance, cash dividends, product launches and color collections, sustainability recognition, forest stewardship partnerships, and segment trends across Siding, OSB, South American operations, timber, and related activities.
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LP Building Solutions (NYSE: LPX) announced the appointment of Jose A. Bayardo to its Board of Directors, effective immediately. Bayardo, currently the CFO at NOV Inc. (NYSE: NOV), brings extensive experience in finance, strategic planning, and corporate transformations. CEO Brad Southern highlighted Bayardo's insights as pivotal for executing the company's transformation strategy. Bayardo holds degrees from prestigious universities and has a background in investment banking and leadership roles in multiple companies.
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LP Building Solutions appointed Aaron Howald as Vice President, Investor Relations and Business Development, and Craig Miles as Vice President, National Sales, OSB Marketing and Planning. Howald, who joined LP in 2011, has advanced through various roles in the OSB business and corporate finance, playing a crucial part in transforming LP into a leading building solutions company. Miles, with a history at LP since 2004, has been key in developing LP's Structural Solutions portfolio. LP operates 25 plants globally and focuses on high-performance building products.
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Louisiana-Pacific Corporation (LPX) reported impressive Q3 2021 financial results, with net sales surging 53% to $1.2 billion. The growth was driven by a 19% increase in Siding Solutions sales and significant price hikes in OSB, contributing $600 million to revenue. Net income surged 107% to $365 million ($3.87 per share), while adjusted EBITDA rose to $522 million. The company allocated $399 million for share buybacks and declared a quarterly dividend of $0.18. Despite challenges like rising raw material costs, LP remains confident in maintaining strong cash flow and growth.
LP Building Solutions announced that Mike Blosser, Senior Vice President of Manufacturing Services, has been elected to the Board of Directors of the American Wood Council (AWC) as of November 1, 2021. With 35 years of experience in the engineered wood industry, Blosser has been with LP since 1999, bringing significant leadership expertise to AWC's mission in shaping public policy and education for wood products. AWC's President praised Blosser's capabilities, highlighting his strong background and commitment to advancing the industry.
LP Building Solutions (NYSE: LPX) has declared a cash dividend of $0.18 per share for common shareholders. The dividend will be paid on December 1, 2021, to shareholders recorded by November 8, 2021. This announcement highlights LP's commitment to providing shareholder value as a leader in engineered wood building products. The company operates 25 plants across North America and South America, delivering innovative and dependable building solutions to builders and remodelers globally.
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LP Building Solutions (NYSE: LPX) announced it will release its third-quarter financial results on November 2, 2021. A conference call, led by CEO Brad Southern and CFO Alan Haughie, will occur at 11 a.m. ET on the same day to discuss results from the quarter ending September 30, 2021. The call can be accessed at 855-638-4813 (U.S.) or 704-288-0619 (International). Participants can also join via a live webcast. An archived version of the call will be available online.